the anwser is not held to maturity

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answerhappygod
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the anwser is not held to maturity

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the anwser is not held to maturity
The Anwser Is Not Held To Maturity 1
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Sheridan Corporation purchased on January 1, 2020, as a held-to-maturity investment, $47,000 of the 7%, 5-year bonds of Harrison, Inc. for $51,113, which provides a 5% return. The bonds pay interest semiannually. Prepare Sheridan's journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and premium amortization. Assume effective-interest amortization is used. (Round answers to O decimal places, e.g. 5,125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation (a) 1 (b) Cash Cash Interest Revenue Debit 51113 1645 Credit 51113 1278 367

Cullumber Company has the following portfolio of investment securities at September 30, 2020, its most recent reporting date. Investment Securities Horton, Inc. common (4,870 shares) Monty, Inc. preferred (3,220 shares) Oakwood Corp.common (990 shares) Cost $204,540 125,580 176,220 Dato Fair Value $188,780 133,000 On October 10, 2020, the Horton shares were sold at a price of $53 per share. In addition, 3,170 shares of Patriot common stock were acquired at $54 per share on November 2, 2020. The December 31, 2020, fair values were Monty $96,750, Patriot $141,850, and Oakwood $188,440. 175,320 Prepare the journal entries to record the sale, purchase, and adjusting entries related to the equity securities in the last quarter of 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Fynlanation. Debit Credit

Date ct. 10, 2020 ov. 2, 2020 ec. 31.2020 Account Titles and Explanation Cash Equity Investments Gain on Sale of Investments Equity Investments Cash Unrealized Holding Gain or Loss-Income Debt Investments Debit 258110 171180 58160 Credit 204540 53570 171180 58160
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